Barclaycard interest refund

salvo69

Hi there

I logged into my barclaycard to see a £4600 "interest refund" and quickly searched google for any news but nothing of recent

Has anybody else had this before I call them.

Thanks

[Deleted User]

Could be lots of things. Call them, rather than going on anyone else's experiences.

Dobbibill

It could be a number of things so you are best to ring them.

Recent experience is, they have miscalculated interest charges for a certain period of time and are refunding it. If this is the reason for the credit, you should receive a letter. The letter normally arrives within a week of the credit.

Let us know how you get on.

fulltimer

That's weird. I logged in to my Barclaycard account today and there were two mysterious payments into my account from Barclaycard, labelled as 'interest refund'. The smaller payment was about 6% of the larger payment. But like the OP they total several thousand pounds. I haven't made a claim, and to my knowledge have not been notified of any refunds. Its actually put my account well into credit. Although it's possible I missed the letter as I have been touring for a while. How is such a large refund possible?

Aarchiee

Same here. Just logged in this morning and found the same. Did you ring them ?

MABLE

Not happened to me but I have never been stupid enough to pay interest in the first place.

fulltimer

No Aachiee, haven't called them yet, need to set aside half an hour for being No.12 in the queue lol. Mable, I admire your self discipline - I am so weak.

Back of envelope calculation tells me this could indeed be the interest I've paid over the last several years. I've had the card for 30yrs. The smaller of the two payments could be interest on the interest (if you see what I mean) at 8% minus tax - that would seem to make sense.

What puzzles me is these payments were made on 17 November yet there's no notice attached to my online statement. Glad I'm not alone though - I thought it was some kind of scam to begin with. Then I thought could be a mistake, wrong account perhaps, but banks don't make mistakes like this. Do they?

Anyway, nice little Xmas surprise, and no, I won't be spending it. I shall follow Mable's good example.

aqbadger

Hi All, did anyone get to the bottom of what these refunds are for exactly? I've had the same and only just noticed...